Wah Seong Corporation Berhad Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 FINANCIAL STATEMENTS WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 149 14 DEFERRED TAX ASSETS/(LIABILITIES) (CONTINUED) Group Company 2017 RM’000 2016 RM’000 2017 RM’000 2016 RM’000 Subject to income tax Deferred tax assets (before offsetting) - Unused tax losses 21,416 7,505 - - - Property, plant and equipment 16,078 1,855 - - - Provisions and accruals 6,072 21,367 2,094 2,224 - Unrealised foreign exchange losses 116 118 - - - Others 1,121 119 - - 44,803 30,964 2,094 2,224 Offsetting (3,079) (6,439) (32) (49) Deferred tax assets (after offsetting) 41,724 24,525 2,062 2,175 Deferred tax liabilities (before offsetting) - Property, plant and equipment (10,918) (23,156) (32) (49) - Unrealised foreign exchange gains (377) (1,804) - - - Others (4,912) (878) - - (16,207) (25,838) (32) (49) Offsetting 3,079 6,439 32 49 Deferred tax liabilities (after offsetting) (13,128) (19,399) - - The Group did not recognise deferred tax assets arising from the following temporary differences of certain subsidiaries as it is not probable that future taxable profit will be available against which the deferred tax assets can be utilised in these subsidiaries. Group 2017 RM’000 2016 RM’000 Deductible temporary differences on: - Unused tax losses 300,897 358,026 - Unabsorbed capital allowances 67,496 75,725 - Provisions and accruals 13,400 - - Others 19,682 27,038 401,475 460,789 Deferred tax assets not recognised 93,625 106,137